AK6 diamond project, Orapa region, Botswana.

Project description Following difficulty in securing finance for the AK6 project, Afican Diamond has developed a new mining plan for the AK6 joint venture (JV) project in Botswana, which will cut costs and bring forward production. Initially, the plan was to bring the AK6 mine on stream in 2011 at 2,7-million tons a year, scaling up to 4,2-million tons a year in 2013. Under the new plan, African Diamonds proposes a two-million-ton-a-year mine, scalable to four-million tons. In the early years, yearly output will be more than 450 000 ct. Value Initially, the mine was to be developed ina two-phase process requiring a total investment of about $260-million. Under the new plan, the project will cost less than $40-million, with operating costs of under $10t. Duration Production was scheduled to start in April 2011, but under the new plan, the construction of the mine has been brought forward to start in 2009, with production beginning by the end of 2010. Client Boteti Exploration is a JV between De Beers Prospecting Botswana, African Diamonds and Wati Ventures. De Beers holds a 71% in the company, while African Diamonds holds 28% and Wati Ventures 1%. Contact details for project information :

De Beers Botswana, Charmaine Muir-Revaka, tel +267 361 5231 or email charmaine.revaka@debeersgroup.com

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